Related News: "Innovation and Competitiveness"
Business Leaders Congratulate Premier Gordon Campbell For Strengthening British Columbia’s Competitiveness
British Columbia’s decision to harmonize its provincial sales tax (PST) with the federal Goods and Services Tax (GST) is absolutely the right strategy for these difficult times and will help to create new jobs as Canada emerges from recession, says Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE).
“Canada’s business leaders congratulate Premier Gordon Campbell for his leadership and vision,” Mr. d’Aquino said. “In a single, bold stroke, his government will strengthen British Columbia’s competitiveness, attract new investment and improve employment opportunities for workers throughout the province.”
The CCCE has been a strong advocate of sales tax harmonization since the GST went into effect in 1991. The conversion of a traditional retail sales tax to a value-added tax benefits the economy by encouraging companies to invest in new equipment, by lowering the costs of business inputs, and by reducing the cost of compliance and administration. Those benefits in turn result in lower prices and higher incomes for consumers.
Earlier this year, Ontario’s government announced that it intends to harmonize its PST with the GST following the example of previous reforms by Nova Scotia, New Brunswick, Newfoundland and Quebec. With Ontario and British Columbia now … Read more »
Roadmap To Fiscal Balance And Strategy To Improve Competitiveness Both Crucial To Recovery, CCCE Says
Canada’s governments need to develop clear and credible plans for restoring fiscal balance as quickly as possible as the current recession eases, says Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE).
Finance ministers from the G8 leading industrialized countries are meeting today and tomorrow in Lecce, Italy, and are expected to discuss exit strategies from the measures governments around the world have taken to deal with the global economic crisis.
These measures have sharply increased government spending, leading to huge budget deficits in many countries. The danger is that much higher levels of public debt could lead to higher inflation and borrowing costs, which in turn would damage prospects for job creation and a return to sustainable growth.
“Canada’s federal government, in close collaboration with its provincial counterparts, has implemented a range of stimulus measures that are helping workers and their families to weather the severe global recession,” Mr. d’Aquino said. “But as stability returns and we prepare to turn the corner on the worst downturn in decades, now is the time to begin thinking about a roadmap to fiscal recovery.”
Both the timing and the trajectory of a return to growth – here … Read more »
The Canadian Council of Chief Executives (CCCE) supports today’s call by the National Round Table on the Environment and the Economy (NRTEE) for a unified national approach to putting a price on emissions of the greenhouse gases linked to climate change.
The NRTEE report, Achieving 2050: A Carbon Pricing Policy for Canada, calls for a nationwide cap-and-trade system that would cover almost all sources of greenhouse gases, from large factories and power generation to the fuels used in cars and homes.
“Price signals are an important tool for spurring business investment in new technologies and for changing consumer behaviour, but they must be applied consistently across the economy if they are to be effective,” said CCCE Executive Vice President David Stewart-Patterson.
In 2007, the CCCE issued a policy declaration, Clean Growth: Building a Canadian Environmental Superpower, based on five principles: achieving a coherent national plan; recognizing the critical role of developing and deploying new technologies; establishing policies that will drive investment and innovation; making wise use of price signals; and contributing to a global solution.
“The National Round Table’s recommendations reflect these principles,” Mr. Stewart-Patterson said. “The report also demonstrates that achieving any ambitious target will require significant … Read more »
Canada And The United States Must Work Together To Boost Free Trade And Economic Recovery, Washington CEO Summit Participants Agree
Canada and the United States face enormous economic challenges, but business leaders in both countries are working closely with governments to drive a rapid return to growth and prosperity in North America and around the world, says Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE).
Mr. d’Aquino was speaking at a special summit of Canadian and American business leaders and policy makers convened by the CCCE in Washington, D.C., on March 23 and 24, 2009.
Participants included: Lawrence Summers, Director of President Barack Obama’s National Economic Council and Assistant to the President for Economic Policy; Ronald Kirk, newly confirmed United States Trade Representative; Jim Prentice, Canada’s Minister of the Environment; Mark Carney, Governor of the Bank of Canada; and Kevin Warsh, Member of the Board of Governors of the Federal Reserve System.
“This is a time of transformation in the global economy, where governments around the world are scrambling to coordinate their responses to the most severe and synchronized downturn in generations,” Mr. d’Aquino said. “It is a time of transformation in the politics of the United States, where a charismatic new President has swept to power but faces daunting challenges at every turn. … Read more »
Comments by Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE), following today’s announcement that Canada and the European Union have agreed on the broad outline of a future comprehensive economic partnership:
“At long last, Canada is poised to realize the immense potential of a closer transatlantic relationship. By encouraging deeper bilateral economic integration, a Canada-European Union partnership would bolster confidence and create important new opportunities for workers, businesses and investors on both sides of the Atlantic. Particularly in today’s troubled economic environment, this is a substantial and welcome breakthrough.”
“Canada’s business leaders congratulate Prime Minister Stephen Harper and International Trade Minister Stockwell Day, and their senior officials, for their vision and dedication to this vital initiative. We strongly encourage Canadian and European officials to seek negotiating mandates and to launch the talks as soon as possible. My colleagues and I are deeply committed to these negotiations and promise to do everything in our power to achieve a successful outcome.”